What are the legitimate Sharia controls for establishing an investment cooperative society that operates on a shareholding system, distributing profits according to the number of shares, with an administrative body that manages funds and makes investment decisions? Is it a condition for there to be physical presence in the partnership? What is the ruling on cases of withdrawal, substitution, and termination of membership, and how is the role of the administrative body and the general assembly regulated in decision-making?

There is no harm in not requiring a physical presence in a partnership, according to the preponderant opinion of the majority of scholars, contrary to the Maliki school.

It is permissible for two assets to be partnered with the physical presence of one owner but not the other. There is no harm in an administrative body working for a wage or an increased percentage of the profit, as this combines the transaction of partnership (sharika) and profit-sharing (mudaraba), which is valid.

There is no harm in forming an administrative body to act on behalf of all members, as this body is considered an authorized agent of the other members for managing the fund's assets.

The jurisprudential rule is that any contract an individual is permitted to undertake himself, he is also permitted to appoint an agent for.